The indictment accuses Peter Heckman, 63, of operating a failing recording studio and offered investors guaranteed returns of 10 percent to 15 percent for terms as short as two weeks.

Heckman allegedly raised more than $1.2 million from investors while creating the illusion of legitimate investment returns by paying early investors with funds from later investors in what is commonly known as a "Ponzi scheme."

Heckman became aware of imminent criminal charges and left Hawaii prior to the indictment, according to the FBI.

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In 2010, the FBI was able to track Heckman to the Indonesian island of Bali where he was operating a recording studio and had launched a record label producing albums for musical artists in the Philippines and Indonesia.

Heckman is described as 5-feet-7-inches-tall, 200 pounds with gray hair and blue eyes. He is a German national who often uses the first name "Hans" and sometimes spells his last name "Heckmann" to mask his true identity while marketing his recording production services.

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The statutory maximum penalty for wire fraud is 20 years in prison per count.

Anyone recognizing Heckman or having information as to his current location is asked to call the Honolulu FBI at 808-566-4300.

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